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The medical and dental cover provided under the new service starts at less than €1 a day but frequent travellers have the option of placing a cap on their annual costs - or pay a fixed amount for the year.

Underwritten in partnership with Thomas Cook Money, the insurance policies will be issued under the White Horse Insurance brand.

CEO Anth Mooney said partnering with innovative fintech and traveltech companies is an important part of their strategy.

"You need strong alliances to start a revolution, and Revolut are making great strides in disrupting the traditional finance industry."

Last October, Revolut launched its initial insurance offering allowing users to protect their mobile phone worldwide for as little as €1 a week.

The firm collaborated with Simplesurance to allow its 50,000 Irish users to avail of the low-priced device cover.

Revolut has also recently introduced a host of additional features, including cryptocurrencies support, device insurance and credit.